GH Research (NASDAQ:GHRS) Shares Up 8.3% - Time to Buy?

GH Research PLC (NASDAQ:GHRS - Get Free Report) rose 8.3% during trading on Monday . The stock traded as high as $13.50 and last traded at $13.54. Approximately 95,516 shares were traded during trading, a decline of 48% from the average daily volume of 184,688 shares. The stock had previously closed at $12.50.

Analysts Set New Price Targets

GHRS has been the topic of several analyst reports. Guggenheim reduced their price target on GH Research from $32.00 to $29.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Stifel Nicolaus lifted their price target on GH Research from $18.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Cantor Fitzgerald initiated coverage on GH Research in a report on Wednesday, June 4th. They set an "overweight" rating and a $25.00 price target on the stock. Royal Bank of Canada started coverage on GH Research in a report on Friday, March 7th. They set an "outperform" rating and a $31.00 price target on the stock. Finally, Wall Street Zen downgraded GH Research from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.00.

GH Research Trading Down 7.0%

The stock has a market capitalization of $667.52 million, a PE ratio of -16.24 and a beta of 0.97. The firm's fifty day moving average is $10.66 and its 200-day moving average is $10.35.

GH Research (NASDAQ:GHRS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.42. As a group, equities analysts predict that GH Research PLC will post -0.8 EPS for the current year.

Hedge Funds Weigh In On GH Research

Several institutional investors have recently bought and sold shares of the company. Cormorant Asset Management LP grew its position in GH Research by 238.8% in the 1st quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company's stock valued at $22,165,000 after acquiring an additional 1,416,439 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in GH Research in the 1st quarter valued at about $5,018,000. RA Capital Management L.P. grew its position in GH Research by 3.9% in the 1st quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company's stock valued at $76,599,000 after acquiring an additional 257,959 shares in the last quarter. Troluce Capital Advisors LLC acquired a new position in GH Research in the 1st quarter valued at about $1,716,000. Finally, Walleye Capital LLC acquired a new position in GH Research in the 1st quarter valued at about $584,000. 56.90% of the stock is owned by institutional investors and hedge funds.

GH Research Company Profile

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).